Collaborating for patient care requires constant connectivity and up-to-date information. Simplifying how you exchange that information with insurance companies is more important than ever since their coverage policies change annually. MedsIT Nexus makes it easy to work with insurance companies, from the first check of a patient’s eligibility through final resolution of your reimbursement.
Insurance verification is an extremely time consuming process for your staff. Benefit breakdown are not always available on the portal and that’s when your staff calls insurance companies and speak to representative which on average can take up to 45 minutes to confirm a verification, imagine call dropped!!! Moreover, incorrect insurance verification can affect your practice productivity in form of low collections, denied claims, high account receivable and the most important low patient turnover.
MedsIT Nexus billing expert will retrieve information from the cloud to start the verification process.
Medical practice uploads patient information on MedsCloud.
The complexity of medical benefits is market driven. It can be time consuming for the medical office to first learn about and then explain the terms of any particular policy to a patient. Also, since policies can change at the beginning of a plan year, this can make it very difficult for any dentist to understand how they will be paid for any procedure. Dentists use the pre-authorization process to determine a patient’s coverage.
The slow turnaround on a preauthorization often creates frustration for patient and practitioner. The process can be used to uncover proposed treatment which is not covered or is disallowed. Patients must understand the benefit outlined in the preauthorization is tempered by the allowable benefits at the time of service, not the time of preauthorization submission. “Preauthorization” and “predetermination” are processes that payers make available to dentists to clearly determine the potential benefits for a specific patient. These are distinct and different terms and processes which are outlined in many state statutes. They are not interchangeable. (“Pre-approved” is not a term generally used by payers).
Avoid the frustration of collecting additional payments that fall between an estimated co-pay and what an insurance policy covers. An angry patient is far less likely to pay because they feel betrayed and tricked. Using the MedsIT Nexus platform to help you verify your patients’ insurance up front, you significantly reduce this issues in your practice and save thousands each year!
Having updated and accurate insurance information on file for your patients means you can provide accurate treatment plans and better estimated costs to your patients. This decreases the likelihood of a patient having an outstanding balance when the insurance company has paid its share. Keep your patients happy and your accounts receivabe low with the better insurance verification!
We don’t have to tell you that when a patient is happy your practice is profitable. Balances are paid, no-show appointments are reduced, and patient referrals flood in. Eliminate the unpleasantness of having to tell a patient they owe you far more than you quoted them.
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